Health Insurance News

The World Health Organisation regularly ranks the equity, efficiency and quality of health systems around the world. In their most recent report, Australia ranked in the top 20 per cent again, above the United States, and even our neighbours across the Tasman.

Statistics on employee retention issues in Australia aren't pretty. In fact, employee turnover averages at 16 per cent every year and almost half of upper management believe that number is far too high.

The Australian insurance and private health system is a complex beast, and you'd be forgiven for not knowing its ins and outs. However, regardless of where you live, who you are, and what you do, you should understand Lifetime Health Cover and how it could affect you.

If you're moving to Australia you may be responsible for covering all of your healthcare costs, unless your government has signed a Reciprocal Health Care Agreement offering access to Medicare, Australia's public health system.

Why do we need private health insurance in Australia when our public health system remains one of the world's best? After all, insurance can be costly, and many don't fully understand the benefits it provides. To help you make an informed decision, here are four of the most compelling advantages of private health insurance.

Private health insurance has always been a volatile business, with consumers becoming increasingly critical of price increases that happen like clockwork every year. Since 2013 the average price of private health insurance has increased by roughly 23 per cent according to the Australian Prudential Regulation Authority, and that's having a profound effect on coverage levels.

Pouring money down the metaphorical drain is the worst nightmare of most business owners. That's why before starting any new initiatives to improve your business you should be sure that they'll make a positive difference - corporate health insurance in Australia is no exception.

But it can be tough to know what questions to ask when buying corporate health insurance, and to figure out what's really important.

When we're young we're kept occupied by university, career, relationships and everything else involved with the transition into adult life. Understandably, private health insurance in Australia often isn't a blip on our radars - but it should be.

It's a phrase thrown around so often that it loses meaning, but it's also an essential factor of any business's success. A recent OKI study found that 78 per cent of businesses intend to implement new initiatives to improve cost efficiency in the next year. Are you looking to do the same? How can you get started?